Global Genomics Biomarkers Market 2017-2021
Overview of the global genomics biomarkers market
The global genomics biomarkers market is anticipated to grow at a steady rate and will post a CAGR of close to 18% during the forecast period. The increasing instances of low-cost clinical trials in developing countries will drive the growth prospects for the global genomics biomarkers market until the end of 2021. This globalization of clinical trials has been credited to numerous components that include organized trials, the willingness of members facilitating the enrollment, accessibility of qualified local investigators, enhanced opportunities in various Tier 2 and Tier 3 countries, and lower expenses of clinical trials in developing nations. Some of the other factors responsible for the increasing preference for disease-based genomic biomarkers testing includes the faster and precise analysis of diseases and potential lowering in volume and time involved in clinical trials.
In terms of geography, the Americas accounted for the maximum market share during 2016 and will continue to dominate the market for the next four years. One of the major factor responsible for the market’s growth in the region is clinical research activities provided by a large number of manufacturers and distributors to other countries such as Brazil, Mexico, and few Tier 3 countries. According to the industry research report, increasing investments in the healthcare sector to provide the highest quality and effective treatment will drive the market’s growth in the region during the forecasted region.
Competitive landscape and key vendors
The global genomics biomarkers market is highly competitive and fragmented due to the presence of a large number of vendors across the globe. These vendors increasingly form partnerships to develop new products and enhance competitiveness. Also, they compete against each other based on factors such as aggressive pricing, product sensitivity, product differentiation, technology upgrade, and service models to gain market traction. Furthermore, some of these vendors are strategizing to widen their customer base by investing in the marketing of the complex biomarker-based diagnostic tests in mainstream media.
Key vendors in this market are -
- Roche Diagnostics
- Myriad Genetics
- Thermo Fisher Scientific
- Bio-Rad Laboratories
Other prominent vendors in the market include 23andMe, Aepodia, Almac, AROS Applied Biotechnology, DNAVision, Epigenomics, Epistem, Eurofins Scientific, Foundation Medicine, Genomic Health, Liquid Genomics, New England Biolabs, OriGene, and US Biomarkers.
Segmentation by indication and analysis of the genomics biomarkers market
- Cardiovascular diseases
- Neurological diseases
The oncology segment accounted for the maximum market share during 2016 and will continue to dominate the market for the next few years. It has been observed that gene biomarkers are widely adopted for oncology screening or diagnostic and prognostic tests. For instance, Illumina’s Cancer Discovery Initiative is aimed at identifying genomic and transcriptomics biomarkers for ovarian, gastric, and colorectal cancers.
Segmentation by end user and analysis of the genomics biomarkers market
- Diagnostic and research laboratories
The diagnostic and research laboratories segment accounted for the maximum market share during 2016 and will continue to dominate the market in the forthcoming years. One of the major factors responsible for the market segment’s growth is the increasing number of testing services provided by highly advanced reference laboratories at a lower cost to get more business deals from the clients. As a result, hospitals and private clinics are encouraged to outsource a larger number of tests and diagnostic services.
Key questions answered in the report include
- What will the market size and the growth rate be in 2021?
- What are the key factors driving the global genomics biomarkers market?
- What are the key market trends impacting the growth of the global genomics biomarkers market?
- What are the challenges to market growth?
- Who are the key vendors in the global genomics biomarkers market?
- What are the market opportunities and threats faced by the vendors in the global genomics biomarkers market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global genomics biomarkers market?
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